SAIL targets 10.8 million tons output in 2003
Steel Authority of
India Ltd (
SAIL) has recently announced that, it expects its output to reach up to 10.8 million tons, with an increase by 6-7% for 2003 fiscal, depending on the current market condition.
SAIL has recorded a net loss of Rupees 3.04 billion ($66 million) in 2002-2003 period, which is about 82% lower than the loss recorded in previous year. On the other hand, in the first quarter of current fiscal, the company recorded a net profit of Rupees 2.55 billion ($55.6 million).
The company also plans to enhance
investments to renovate its technical equipment. In the next five years, the company aims to produce more value-added items.